ISLAMABAD: Due mostly to a decline in worldwide pricing and import tariffs, the price of gasoline and high-speed diesel (HSD) is expected to decrease by around Rs5 and Rs9 per litre, respectively, from Tuesday.
According to knowledgeable sources, during the past two weeks, the price of HSD and gasoline has decreased by around $5 and $3 per barrel, respectively, on the global market. The final inland freight equalization margin (IFEM) computation will determine how much petrol and HSD cost per litre. Petrol prices are expected to decrease by Rs4.50-5.20 and Rs8–8.50, respectively.
The import premium for gasoline has decreased from $10.7 per barrel to $9.60, a decrease of over 10%. This is the second two-week decline since the barrel fell to $13.50 in March. Conversely, though, the rupee dropped to Rs278.65 over the course of the fortnight, losing almost 45 paise relative to the dollar. The expected net effect is a reduction in petrol prices from the current Rs 295 to roughly Rs 5 per litre.
Additionally, the price of HSD decreased by around $5 per barrel, while the $6.50 import premium—paid by Pakistan State Oil—stayed the same. Therefore, from the current rate of Rs290.38 per litre at the depot stage, the HSD charge was expected to decrease by Rs8 to Rs8.50 per litre, subject to final exchange rate adjustment and IFEM in pricing. According to officials, the price of gasoline on the international market fell from $98.5 to $96.6 per barrel, while the price of hydrogen was reduced from $102.9 to $97.5 per barrel.
The government raised the price of gasoline and HSD by Rs4.53 and Rs8.14 per liter for the two weeks ending April 30 almost two weeks ago.
The maximum amount allowed by law, which is Rs60 per liter for both gasoline and HSD, has already been reached by the government.
